Mine assignment for Suraya only #3

Goldcorp Mining Operations

Figure 1: Mining Operations in North America (GG Operations Map, 2012)

Gold Corp's Environmental Policy

Goldcorp uses Sustainability Excellence Management System (SEMS) which was developed in 2013. (Goldcorp CSR, 2013) This framework and standards allows sustainability management and ensures a stability of approach for implementing the sustainability policies across our company. The Environmental and Sustainably is a integral element for SEMS as it promotes the development and implementation of effective systems. This will minimize risks safety, health and environmental hazards. (Goldcorp CSR, 2013)

The core values are summarized below:

· Commitment to the protection of life, health and the environment for present and future generations.

· Respect for the needs and cultures of local communities.

· Open communication with employees, stakeholders and governments regarding our plans, programs and performance.

· Cooperation with government agencies, local communities, educational institutions and suppliers to achieve safe handling and disposal of all our materials, resources and products.

· Application of technologies to continuously improve the safe, efficient use of resources, processes and materials. (Goldcorp CSR, 2013)

The report also elaborates on environmental performance in regards to materials used, energy, transportation, renewable resources, water, biodiversity, land management and closure plans. (Goldcorp CSR, 2014)

Barrick Gold Corporation

Head Office Location: Brookfield Place TD Canada Trust Tower 161 Bay Street, Suite 3700 P.O. Box 212 Toronto, Canada M5J 2S1

Barrick Gold was founded in 1983 by Peter Munk. It's one of the largest gold mining company in the world, with headquarters in Toronto, Ontario. Other than Toronto, Barrick has three regional business units located in Australia, Africa, and South America. This company operates in the metals and mining industry and employed 20,0234 individuals as of 2011, earning revenues of $14.312 billion. Barrack gold trades publically on the Toronto Stock Exchange as well as the New York Stock Exchange.

Barrick is the world’s largest gold producer and has 26 operating mines, exploration and development projects in various locations around the world.

The image below shows a number of mining operations previously listed:

Figure 2: Mining Operations in America (Global Operations, 2014)

Barrick Environmental Policy

Barrick's goal is to minimize the environmental footprint and safeguard of the environment. Having a responsible management is the key in leading a gold mining company. The policy's framework is based on Environment Management Systems (EMS). This allows Barrick to help achieve their goals of the protections and stewardship.

Implementations of Barrick's policy is summarized below:

· Inviting employees to communicate with the environment policy

· Establish and maintain the EMS and define the requirements of the environment

· Educate employees, their families, and local communities on Barrick's environmental policy

· Ensure that the leadership group fully understands and supports the EMS

· Provide authority to managers and supervisors on issues. Require them to take action based on environmental standards and practices

· Implement management practices to prevent pollution or other environmental impacts

· Set, review, and monitor environmental performance

· Work with government to develop a mutual understanding on environmental issues

· Comply with relevant environmental laws and regulations and with other relevant environmental obligations.

Barrick's environmental sustainability also emphasizes biodiversity, materials management, water management, air emissions management, waste rock & tailings management, and reclamation.

Part B

Goldcorp's Red Lake Mine

Red Lake is known as the world's richest gold mine. It's Goldcorp's top producer in bringing 493,000 ounces in 2013. It covers more around 230 kilometres and located in Red Lake, Ontario. This mine is 100% owned by Goldcorp and had a production of 670 000 of gold in 2013. (Red Mine Lake, 2014)

Deposits of Red Lake include periodotitic komotite and rhyolite type. Red Lake is an underground mine which uses underground cut and fill mining methods and crushing, grinding and flotation processing methods. Primary mining methods used are overhand and underhand cut and fill, pillar recovery and long hole. Red Lake employees approximately 1250 employees and is the world lowest cost producer. The total ore produced as of 2013 is 768, 900 at a 20.33 gold grade and with a gold recovery rate at 95%. (Red Mine Lake, 2014)

To improve Red Mine Lake's current robust safety program, safety training is standardized across the operation for all employees. In December 2010, Red Lake was certified under the International Cyanide Management Code. They have also developed a series of management programs for environmental activities. Red Lake will be using a similar system as the Campbell

complex, a nine-hectare wetland reduces the concentrations of contaminants in the waste rock and tailings pond discharges through naturally occurring microbial forces as the discharge water moves through the wetlands. (Red Mine Lake, 2014)

Goldcorp supports a wide range of local activities related to education, health, community development, arts and culture. Goldcorp is actively involved in developing a new 54 lot housing project, as well as supporting the construction of a new regional medical clinic within the Red Lake municipality.  These initiatives support the corporate vision of Together, Creating Sustainable Value in the communities.

The Hemlo gold mines property consists of David Bell, an underground mine, and Williams, an underground and open pit mine, located approximately 350 kilometres east of Thunder Bay, Ontario, Canada. This mine is 100% owned by Barrick Gold. (Hemlo, 2014)

Hemlo Mine is a surface and underground with methods using open pit and longhole stoping. The processing method Cruching, Grinding, Leaching, and Carbon-in-pulp extraction. As of 2013, Hemlo produced 204,000 ounces of gold which totalled $1.216 per ounce. As of 2013, Ore's produced were 1,700(000's) with a grade of 0.078.(Hemlo, 2014)

In 2013 Barrick implemented a toxic substance reduction plan. Implementation of several

standard policies and procedures pertaining to the Toxic Substance, from operational and health and safety standpoints. These policies and procedures include the following: Nitric

Acid Handling; Nitric Acid Mix Procedure; Nitric Acid Wash Procedure; and Nitric Acid Off. (Hemlo, 2014)

Figure 3: Hemlo Mine (Barrick: Operations, Hemlo, 2014)

Part C

Comparison of the two companies

Goldcorp seems to be the more diversified company when looking at the number of mines, range of commodities being mined and the number of companies it operates in. Goldcorp operates in Canada, United States, Central and South America and Mexico, producing commodities including gold, silver, lead, zinc and copper; opposed to Barrick which operates in Canada, United States, and Australia Pacific primarily producing gold and some copper. Goldcorp currently has 18 mining operations and 2 development projects and Barrick gold has 26 mining operations.

Goldcorp also seem to have a more comprehensive environmental policy when compared to Barrick and places more emphasis on its environmental activities. On the Goldcorp website, under each mine and project there is a section labelled “Health, Safety & Environment” and “Community Initiatives” (Goldcorp Operations, 2014). This shows that the company has set out separate environmental policies which are specific to each mine and project.

Barrick Gold has a section on the company’s website which explains a general environmental policy, not having a customized one for each mine and project, therefore is not as thorough and shows less emphasis on environmental policies for each mine and project. However, under their Environmental sustainability, there is detailed information on biodiversity, materials management, water management, air emissions management, waste rock & tailings management, and reclamation.

Bibliography

CSR. (2013). Goldcorp Sustainability Report 2013. Retrieved August 24, 2014, from Goldcorp: http://csr.goldcorp.com/2013/6_management.php#sthash.gOXqP93G.dpuf

Global Operations. (2014). Retrieved August 28, 2014, from Barrick Gold: http://www.barrick.com/Theme/Barrick/files/mine_images/2007_Map_NevadaInlay.jpg

Hemlo. (2014). Retrieved August 29,2014, from Infomine: http://www.infomine.com/index/properties/Hemlo.html

Red Lake Mine. (2014). Red Lake Mining Operations. Retrieved August 27, 2014, from Goldcorp: http://www.goldcorp.com/English/Unrivalled-Assets/Mines-and-Projects/Canada-and-US/Operations/Red-Lake/Overview-and-Operating-Highlights/default.aspx

Responsibility. (2014). Environment. Retrieved August 24, 2014, from Barrick Gold: http://www.barrick.com/responsibility/environment/

Wikipedia. (2013). Retrieved August 28, 2014, from Goldcorp: http://en.wikipedia.org/wiki/File:GGmap.jpg

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